The price for this share is currently moving in a series of impulses and corrections, typical of a healthy market. This pattern has created a series of lower highs and lower lows (downtrend. In order to execute a short position, traders have two options, depending on whther they are quite risk-averse (conservative) or risk-seeking:
(1) Enter on the resistance of the correction channel (bear flag)
(2) Enter on the break to the downside of the bear flag (correction channel), that is when the support of the channel is breached to the downside.
Do not try to buy this market, as the fundamentals must be very bearish as shown in the price action. Remember, never try catching a falling knife!
(1) Enter on the resistance of the correction channel (bear flag)
(2) Enter on the break to the downside of the bear flag (correction channel), that is when the support of the channel is breached to the downside.
Do not try to buy this market, as the fundamentals must be very bearish as shown in the price action. Remember, never try catching a falling knife!